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I just bought a new house, why isnt my assessed value one half of my sale price?

April 26, 2017assessed bought Half House price sale value

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I just bought a new house, why isnt my assessed value one half of my sale price?

1 Answer

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Michigan law prohibits assessors from basing values on one sale price. We are required to value your property based on the methods used to value other properties in your area. While we hope our value estimate is close to your sale price, it is an estimate and may not be the same as your recent sale.